Daily News: May 2, 2013

Oxford Finance, SVB Provide $11MM to CardioFocus

Oxford Finance announced the closing of an $11 million round of debt financing for CardioFocus. The credit facility was awarded to CardioFocus from both Oxford and Silicon Valley Bank. Funds will be used to increase the company’s available capital to fund growth, while it expands its international commercialization and completes enrollment in its pivotal trial of the CardioFocus HEARTLIGHT Endoscopic Ablation System.

“CardioFocus has had impressive results, treating more than 1,300 patients in Europe and the United States using its cutting-edge technology to treat patients with atrial fibrillation,” said Christopher A. Herr, managing director for Oxford Finance. “We are very pleased to provide an additional round of capital to CardioFocus to support the company’s continued growth and innovative product development.”

“We’re a proud partner of CardioFocus, having been with the team since it was just starting out,” said Christina Zorzi, vice president of healthcare and life sciences for Silicon Valley Bank. “Today, CardioFocus continues to surpass its ambitious goals with a great team and an important mission to restore the quality of heart patients’ lives. We continue to be inspired by their work and are happy to be able to support their efforts.”